Banco Central closes activities of 17 financial institutions in 2026, the highest count since 2002.
The Brazilian central bank ended the operations of Trustee and Banvox, bringing the total liquidated entities to 17. President Gabriel Galípolo defends the actions as strictly following governance manuals rather than political motives.
Banco Central do Brasil officially liquidated 17 financial institutions in 2026, marking the largest number of closures since 2002 under a recent record of extrajudicial interventions. The central bank terminated activities for Trustee and Banvox, entities controlled by Maurício Quadrado, an ex-partner of Daniel Vorcaro from the previously intervened Banco Master group. Under President Gabriel Galípolo's administration, which began in 2025, total closures have reached 21, following the November intervention in Banco Master. The majority of liquidations this year stem from the Master scandal, while other cases involved institutions with lax or non-existent anti-money laundering controls. Operations against the Quadrado group only concluded when these entities genuinely lacked funds to meet payment deadlines due to liquidity shortages. In public appearances, President Galípolo asserted that these interventions adhere strictly to the technical governance manual and are not driven by punitive measures or political persecution.
